Scale Venture Partners leads $11 mln round for WalkMe

WalkMe has closed $11 million in funding. New backer Scale Venture Partners led the round with participation from Mangrove Capital Partners, Giza Venture Capital and Gemini Israel Ventures. In conjunction with the funding, Rory O’Driscoll, a partner at Scale Venture Partners, will join WalkMe’s board of directors. Based in San Francisco, WalkMe is a provider of cloud-based online guidance solutions.

PRESS RELEASE

SAN FRANCISCO, CA — WalkMe™, the Enterprise Class Guidance and Engagement Platform, announced today that it has received $11 million in funding, led by new investor, Scale Venture Partners. This round also included participation from Mangrove Capital Partners, Giza Venture Capital and Gemini Israel Ventures. As part of the investment, Rory O’Driscoll, Partner at Scale Venture Partners, will join the WalkMe Board of Directors. With this funding, WalkMe has raised $17.5 million to date, since the company was founded in 2011.
The latest round of funding will be used to further accelerate operational momentum and customer acquisition. In the past 12 months, the company has more than doubled its staff and looks to continue to rapidly grow and hire skilled employees that share in the company’s vision and passion. Furthermore, WalkMe’s rapid expansion into the enterprise market has resulted in a more than 5X revenue increase, with enterprises from a wide range of verticals including Adobe, Amazon Web Services, Cisco, Citrix, Stanley Black&Decker, US Foods, Bank of Montreal and Kimberly-Clark to name just a few.
“Great companies start with great products and the best software products need no explanation once you see them. The minute I saw WalkMe, I knew that enterprises would adopt it,” said Rory O’Driscoll, Partner, Scale Venture Partners. “WalkMe puts a stake in the heart of the passive, offline FAQ and Help menu and instead, provides a step-by-step guide at the point of interaction. The customers we spoke to have seen significant improvements in website metrics since they adopted WalkMe.”
WalkMe provides a cloud-based platform designed to help professionals – customer service managers, user experience managers, training professionals, SaaS providers and sales managers – guide and engage prospects, customers, employees and partners through any online experience.
With enhanced features, including engagement optimization, contextual promotions, advanced cross-selling capabilities, and advanced analytics, the platform helps enterprises eliminate online confusion, while at the same time increase efficiency and reduce costs.
“Businesses invest a lot of money and time in software and online services, yet new challenges arise – low adoption rates, the need for ongoing employee training, and introduction of updates and changes. We see a considerable growing market demand for technologies that simplify the user experience and allow for increased productivity, higher overall value and lower total cost of ownership. We have big plans for 2014 and beyond, and we have plenty of positions open for smart people who share our passion,” said Dan Adika, CEO, WalkMe™. “We chose Scale Venture Partners because they were excited, not intimidated, by our ambitious vision of changing the way people use software and websites. I am certain that ScaleVP, along with our existing investors, will empower WalkMe™ to build upon this huge momentum, to scale our business, to disrupt industries and to grow into a long-term company that matters,” he added.
About WalkMe™
WalkMe™ – the Enterprise Class Guidance and Engagement Platform – drives users to action as they use software or websites. WalkMe™ is used by Enterprises from a wide range of industries and verticals to increase sales and conversion rates, boost UX, reduce support costs, and improve employee productivity. Comprehensive step-by-step guidance, delivered through a sequence of tip balloons, is delivered without requiring the user to leave the screen, to watch video tutorials or to read tedious manuals or FAQ pages.
WalkMe™’s human-like algorithm delivers contextual guidance, so that the right people receive the right guidance – specific to each employee’s role, tasks, actions and device. WalkMe™ accurately adapts to any screen size and resolution. All of this is accomplished without any changes or integration to the underlying software. Using WalkMe™ does not require download.
WalkMe™ has received wide industry recognition and acclaim- “Cool Vendor” by Gartner, Red Herring Top 100 Award, “Top Apps That Will Change Your Business” by CIO Magazine, and more. For more information, visit www.WalkMe.com.
About Scale Venture Partners
Scale Venture Partners (ScaleVP) invests in early-in-revenue technology companies in the SaaS, Cloud, Mobile and Internet sectors. ScaleVP’s passion and expertise is in helping entrepreneurs scale their business and grow into long-term companies that matter. ScaleVP has $1B in assets under management and is investing its fourth fund. Representative investments include: Box, BrightRoll, Datastax, DocuSign, Everyday Health, ExactTarget, HubSpot, Omniture, RingCentral and Vitrue.
ScaleVP is located in Foster City, California and invests nationwide. For more information, visit www.scalevp.com or follow us on Twitter at @scalevp or LinkedIn at www.linkedin.com/ company/scale-venture-partners.

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